$1 Million Bitcoin? Cathie Wood’s Data-Driven Case for a Transformative 2026

Bitcoin price rallied to a nearly two-month high of $97,800 on Wednesday, finding support around the previously broken upper consolidation zone at $90,000.

BTC failed to sustain the momentum and declined 3.17% in the next four days. As of Monday, BTC is down and is retesting the 50-day EMA at $92,396.

A decline below the 50-day EMA at $92,396 could lead to a move towards the next support level of $90,000.

The daily chart shows the Relative Strength Index (RSI) is at 52, hence heading down towards the neutral zone of 50, which means that the bullish power is dying out.

The MACD lines are converging, suggesting that the investors are unsure. If the MACD flips a bearish crossover, it would further support the bearish view.